The news was first reported by Tech Crunch, which shared screenshots from the Airware alumni Slack channel detailing how the staff was told that the company would shut down.

The news appears to have come across as unexpected even to former employees, garnering comments such as “holy moly,” “didn’t they just announce some new partnerships?” and “how do I get my options sent to me on paper so I can burn them all in a fire.”

Airware had once been seen as one of the drone industry’s darlings, after having raised $118 million from big investors such as Andreessen Horowitz, Google’s GV, and Kleiner Perkins.

The company went through a series of business transitions, having launched in 2011 as a company to make autopilot systems. It then transitioned to building entire drones, and later pivoted to a company that would consult other companies on enterprise applications.

Chinese drone manufacturer DJI has repeatedly dominated the lower-tier prosumer drone market, as well as the enterprise market with robust drones that offer thermal cameras, zoom lenses and are deeply integrated with enterprise software. DJI has a conservatively estimated 70% market share, but that number could continue to grow if the trend around major companies like Airware calling it quits continues.